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Studio B With Shepard Smith

News/Business. Shepard Smith. Shepard Smith reports on the days top news stories. New. (CC)

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Boehner 14, Us 10, Texas 8, Judge Napolitano 5, Washington 4, Afghanistan 4, Warren Jeffs 4, America 3, Christie 3, Killeen 3, Kentucky 3, Wendell 3, Naser Jason 3, Harry Reid 3, The F.b.i. 2, United Kingdom 2, Iraq 2, Dc 2, John Boehner 2, Napolitano 2,
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  FOX News    Studio B With Shepard Smith    News/Business. Shepard Smith. Shepard Smith  
   reports on the days top news stories. New. (CC)  

    July 28, 2011
    3:00 - 4:00pm EDT  

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a.m. and now shepard smith with "studio b" right now. >>shepard: thank you, martha. in box one the bill to end the debt crisis now making its way through the house of representatives. of course that is far from the end, facing the biggest hurdle in the senate. complete coverage and analysis straight-away. box two: police in texas have captured a soldier who they may have been plotting to attack ft. hood and has striking similarities to the debtly shooting spree at the same post two years ago. and box throw, today, the woman who accused the frontrunner of f the french presidency of rape and speaks out and what she is saying about her critics unless breaking news changes everything. but first from fox at 3:00, a live look at the house of representatives in washington, dc, as lawmakers are started on voting to fix the debt crisis.
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the latest in a drawn out political showdown of their own making in which lawmakers cannot reach a deal to raise the debt limit. some be that cover has -- something that congress has done routinely. or we will default. the republican speaker of the house john boehner trying to overcome a revel to pass the plan and the white house is threatening a veto but there is little chance it will get to that. >> speaker boehner is busy twisting arms right now so try and get the bill passed through the house of representatives. but it is futile. that bill is net going to pass the senate. >>shepard: we are told the latest revision could pave the way for a compromise to which
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both could agree. >> i never said it was perfect and no one believes it is perfect in the caucus. but what this bill reflects is a sincere, honest effort to end the crisis in a bipartisan way, to send it to the senate to receive action. >>shepard: he is predicting his bill will pass in the house of representatives. and now on what it means. and now wendell from the white house, and first, doug on capitol hill. what is happening now? >>reporter: house republicans very nudged by a test vote that occurred an hour ago, and this was a vote on the house rule for the boehner plan. it passed not by a raiser thin margin that many expected but by a considerable margin, 52 votes. that is a good indication of how you can expect the real vote to go which we expect this afternoon or early this evening. what we heard from democrats during the floor vote over that
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test vote, is likely very much what we will hear from senate democrats if the bill gets that far. and now from the state of massachusetts. >> the republican party's deficit plan is very simple. one, prolong the defaulted crisis; two, push the nation to the very brink of economic collapse; three, repeat it all again and again until election day 2012. >>reporter: it is getting heated. house majority leader cantor was heard off camera laying the blame for this stand off over the last several weeks at the feet of senate majority leader harry reid saying "he's going to bring on default." that while his colleague speaker boehner urged colleagues to pass this bill. >> today the house of
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representatives will take action again on solution to end the debt limit crisis. we will take action again like we did in our budget on solutions to the problems that are facing our nation. after today, the house well have sent to the senate not one but two bills to pull in spending and increase the debt ceiling and bring an end to the crisis. >>reporter: if this falls apart on the senate side leaders on boat sides considering a lat ditch contingency plan to keep off default. here is senator conrad. >> after both sides see their position will not prevail, that will be the key moment. and that's, there is a lot of work going on for that key moment. >> he has spoke ton me several times off camera and he is very
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cool, collected and calm as a cucumber in the midst of the fury so it sounds like if it falls apart there is a contingency land and the united states will not default. >>shepard: that is good news. the white house press secretary today called the house speaker plan's a political act adding it has "no chance" of passing in the united states senate but that has not stopped republicans including the house majority leader from supporting the bill. >> the fact is the president has asked us to compromise. we have compromised. we sent over our idea of how we would take this country forward if we were in control. >>shepard: the president has threatened to veto the land if it passes the house. and now, wendell, the main reason for the veto threat? >>reporter: the requirement they have to vote against on raising the debt ceiling by the end the year. democrats and the house and congress say that makes today's vote in the house of representatives pointless because the senate will not pass that plan and it is the same
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argument that house speaker boehner used when he argued the president's call for higher taxes was pointless because it could not get through the house. republicans say the president objects to a second vote for political reasons. today, white house press secretary carney denied that and he said another fight five months from now could slow the economic recovery and he cast speaker boehner as the grinch. >> the most important economic season in the country and at a time when people do not want to worry whether their interest rates going to go up, their mortgage payments and student listen bills, and their credit card payments especially if they are buying gifts for the holidays. >> 53 senators, 51 democrats and the two independents sent the speaker a letter saying they will not vote for the proposal. >>shepard: a republican member of the president's cabinet called for bipartisanship today. a word we have heard but action we have not seen.
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>>reporter: transportation secretary lahood who was the republican when he was a member of congress, did call for bipartisanship and he pointed to another example of partisan extremism that is already costing money, saying that the current gas over a budget for the federal aviation administration has idealed 75,000 government and construction workers and costing $200 million a week in lost airline ticket taxes. and he called for a compromise on the debt and deficit plan. there are similarities between the democrat and republican proposals. the republican plan has deeper spending cuts initially and it does not count savings from ending the wars in iraq and afghanistan but the democrat plan ... i'm sorry the democrat's plan extends the ceiling to 2012 and the republican plan does not do that. >>shepard: thank you, wendell amid the construction at the white house. so what happens to the checks the government writes if we hit
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the tell ceiling? that seemed unthinkable but no longer. analysts say it is not cheer because it never has happened before. and now the treasury department issued 200 million electronic payments last month. and now live from washington, hello. >> the government sends out 80 million checks each month just from the treasury and over all the number is higher. in the month of june the government issued 211 million electronic payments or checks. these are the top five categories: medicare, 100 million payments and 70 percent of that to doctors and the rest to other providers like hospitals and laboratories. second is the category we hear the most about, 56 million checks for social security. that is what everyone wants to make sure will keep coming. what is third on the list? food stamps n one in they
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totaled $21 million. fourth on the solicit a subcategory of medicare, or social security, excuse me, disability, and there you go, more than eight million checks or payments when out if that category. rounding that out we go do military, active duty and retired defense personnel more than six million payments of some kind went out. i talked with an expert with the treasury department for 22 years and he said something most americans do not know when the government issue as check it is literally as good as cash so if you take it to the bank they have to cash it even if they might have some doubts whether the government could actually cover it and reimburse them. that includes everything from payments to government contractors to the tax refunds that everyone who pays taxes each year hopes show up in their may box. >>shepard: thank you. much more coming up on the debt ceiling fight in washington, dc and we are in the middle of important congressional movement. the house of representatives
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members are on the floor debating the ceiling. we will find out why the debate and votes could be important and whether they will actually lead to anything at all. that's next. [ male announcer ] this is the network. a network of possibilities.
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>>shepard: the created by your congressman drama continues on capitol hill with lawmakers talking about the crisis which they have the power to prevent. >> i am ashamed of the democrats not whipping up ideas but whipping to say "no." america is a better place than that. americans deserve an honest approach. >>shepard: they do. and this from the house, rather, that from him and now the house minority leader pelosi, what we
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are trying to do is save the world from the republican budget. we are trying to save life on this planet as we know it. that's an excellent idea. and the assistant managing editor of the "wall street journal" which is owned by the parent company of this network. all right, then, are we in a better place today than yesterday? >>guest: if you listen to pelosi, if you read her comments and listen to kevin you would think not, this is a lot of grand instanting on ideology and issues but we're a step down the road. we will have some kind of vote in the house of representatives on the boehner bill. we will see whether this is enough support to get it through. and if it is substantial enough support, that is probably something that harry reid will have to -- when it gets to the senate you may find he does not have enough vets to eliminate it. if he does, we are back to two bills going through. harry reid in the senate and boehner in the house and there
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will be a compromise that will be bloody if reid sees that he early on is going to have to find some way of accommodating the views of the boehner bill. >>shepard: have the tea party come around? is that what has happened? >>guest: you have watched the rhetoric. cantor was explicit on this earlier the last couple of days, you have seen enough whipping of the house, bit whip and a last other people, to get all republicans to too the land. you still have huge disagreements and people speaking out against the republican leadership but there is a regression that boehner is saying, now is the time, get in line, we will vote as a party. >>shepard: the problems are complicated yet really on the surface, they are simple. the tea party went in to office, the new ones, the freshmen told their constituents or the people who voted for them, we will have less spend asking no new taxes.
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well, it has not worked out the way they wanted so they have to do something called compromise and the far left wanted something the president does seem to have promised but cannot deliver on, so how do we keep from defaulting? can he go with the 14th amendment option? >>guest: unlikely, that would be a downgrade of the debt at the least. at this point, the compromise option is not off the table. and the silver lining in all of this is what we have discussed in the past the nation is really focused on doing something about the national debt. that is a positive step in washington. whether they can do that without creating all sorts of other problems like a downgrade is what we will see play out the next couple of days. >>shepard: the truth is, though you can make the argument and you can say without being a liar that there are cuts here, they really are not cuts.
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there is more spending each year through the year 2021 but adjusted for inflation that is less spending. that is not saying we are spending less they are spending more and the debt problem has not been tackled. >>guest: and fuzzy logic in some of the supposed "cuts," that are proposed. the reid bill is much larger than boehner and it would cut more but it assumes winding down the wars in iraq and afghanistan and that can accrue to the nation as "cuts." so, there is problems in the numbers and boehner's number from the white house standpoint the problem is, it is too small and requires another debate next year, it does not push this through until after. >>shepard: why would the president allow that? >>guest: he says he won't.
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but boehner says that could be the best he can get. >>shepard: it may be and maybe through all of this, i have to go, john, but maybe we have figured out this if you do something you have to pay for it. if you start wars that cost $1 billion a day you have to fund them. >>guest: if you give seniors prescription drugs, if you have a medicare program the way we have it, if you have a social security net, you have to fund it and pay for it, and you could not anerd to right now. >>shepard: and you have to make corporations pay taxes when they don't want to and the rich people have to pay more. john, thank you. general will be with us with the fox report as we analyze this throughout the day. new jersey governor governor christie hospitalized today. the health care forced cancellation of a bill signing event and a press conference. on monday, governor christie visited iowa fueling speculation he might be considering a run for budget but he said he is not. the governor says he will not.
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governor christie is said to be doing fine and medical tests have come back normal.
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>>shepard: continuing coverage from the state of texas. you can see we of waiting for a news conference. it was to have begun a minute or two ago. they want to get information to
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us. a soldier has been arrested suspected of plotting an attack on ft. hood, a new attack. that is the same army post where another soldier went on a shooting spree back in 2009 and killed 13. f.b.i. investigating this. the suspect's name is naser jason abdo. a soldier who went awol from kentucky and recently fought a deployment to afghanistan. investigators say they arrested him yesterday after he brought a pistol clip and gun powder, or but the it at a store called guns galore in killeen, texas, the same store where the accused ft. hood shooter purchased his weapons and they found guns and bombmaking equipment in his motel room. and jo, -- now, what else do they know? >> naser jason abdo went awol from kentucky on july 4th after applying for objector
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status as a muslim to the army. he was granted that status but it was put on hold because the army investigated they found child pornography on his computer. after that hearing, that is when he left the base and he was found in texas and this video provided to us from middle east media research shows an interview that naser jason abdo gave a year ago showing him praying and talking about why he cannot deploy to afghanistan as a muslim and law enforcement sources say when they picked him up they found jihadist materials in a backpack in his motel room and the methodology was right out of a hand book from al qaeda bombmaking materials. >>shepard: what else did they find in the motel room? >>reporter: i am told they found 18 pounds of chicago which can be used for bombs and a trigger and a pressure cooker, and they found a number of other, some of this smokeless
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gunpowder, a dead give away. he was already ready to go according to a counter terrorism official and bought the ammunition and gun powder from guns galore the same shot in killeen, texas, near ft. hood used by the ft. hood shooter. according to an antiterrorism enforcement protection report he bought three boxes of 12 gauge ammunition, six cannisters of smokeless gunpowder and a magazine for a springfield 9 millimeter gun and paid for the items in cash and drew attention to himself by taking a taxicab to theship. the owners called the police after he asked how to use smokeless gunpowder. >> the red flag was the question of the powder. if you don't know what it is, why are you buying so much? and i spoke with one of the lieutenants down there and expressed my concerns. and i rest surfaced it that i didn't want to be a nuisance but
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i felt uncomfortable with this kid's demeanor. >>reporter: he also bought we are told from an army surplus store a uniform with ft. hood patches he was trying to sew on to the uniform to get on to the base. >>shepard: thank you, jennifer. a number of lawmakers argued that president obama has the power to raise the debt ceiling pick himself. does he have an ace in the hole? our senior judicial analyst judge napolitano explains president's options and we will have headlines for you just ahead on "studio b" today. let me tell you about a very important phone call i made.
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the prices are competitive. >>shepard: breaking news, a plot against ft. hood in texas, police say live news conference in killeen. >> naser jason abdo awolf -- awol soldier from kentucky and he is charged with possession of obtaining materials and being awol. suspicious materials were located in his hotel room. it is anticipated charges will be filed. the police department would like to assure the citizens of killeen and the surrounding community that we are not aware of any additional threat to the safety of our community. the killeen police department would like to thank several ages -- agencies that participated, the f.b.i., joint terrorism task force, the f.b.i., the bureau of alcohol, tobacco, and firearms
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and the sheriff's bomb squad and ft. hood e.o.d. and the district attorney and the department of public safety for their hard work in making this investigation work out very smoothly. it was very difficult. and very manpower intensive and everybody came together at their local, state, and federal level to bring it to a quick closure as far as an arrest but there is a lot of follow-up yet to be done. any questions? (inaudible). >> ft. hood was the target for this young man? can you elaborate. >> it is still under investigation. the information we obtained ... we are working through that. i will say that military personnel were a target of this suspect. >> did he explain why? >> we have a lot of information
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and as you know, interview and interrogation aspect of it, and based on information and other leads we have there is a physicalup, and i can tell you today this is a lot of at mist that sense so we are trying to be careful what is being said publicly until we have a chance to vet that. >> there were two other individuals possibly involved we heard. >> what happened was there was another incident in killeen involving the response unit and some people confused the two. as far as we know he acted alone. we are still going through that investigation process. >> military personnel helping? >> i will not get specific. >> what did you find? >> we cannot comment on that. there were items we feel as well as the federal bureau of investigation, feel federal charges should be filed and that is why it is pending
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prosecutor's office review. i cannot go into detail. there is quite a bit of stuff going on right now and until we have a chance to follow up remember, this just happened so we don't have a lot of information to release. the leads were followed up. we want to be came. >> go ahead. >> can you tell us what was going on the day he was arrested? >> when we received a tip of "suspicious activity," the officers followed up locally with ft. hood and as a result of that activity one thing led to another ands i spoke the following day, he was in custody^. >> sir, what caused the person to give you a tip? for someone to have been suspicious? >> i never discussed this with that person so i would not want to suppose anything.
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a rot -- lot of this is under investigation were i would love to comment further until we are further along in the investigation it would not be appropriate. >> you say military personnel were asked to give a confession? >> we have interviewed him and we have the information as a result of the information and other leads. let me finish. let me finish my statement, that lead to us believe that military target personnel were targeted. >> what do you make of the gun store clerk's behavior? he is the key to this thing. what do you want us to know about what he did? >> we will go back to the report of "suspicious activity." that is important for any community in america to be mindful in this day and age of what is going on. when you see something that is out of the ordinary report that to the local law enforcement. everything national event starts
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at a local level and we want to make sure we give that information to the proper authorities and whether you think someone else has reporting go ahead and make sure that call is placed to make sure we give them, again, the law enforcement agency what they need to physical up on. and now, i neglected this side. >> sir are there plans to hold him? >> he is held on site at this location as far as where he will go from here, we will wait for the complaint to be returned from the prosecutor and based on that we will turn him over to whoever that might be. >> what is his level of cooperation? >> as far as ...? i don't want to get into the investigation aspect. we have befored him. we have followed up on a lot of
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investigative leads. i say "us," and i mean the team i mentioned. there are a dozen ages involved at the federal, state, and local, and there are obviously quite a bit more we would like to release but it is not the right time. >> how closes with he to pulling this off? >> good question. we would be here giving you a different briefing if he was not stopped. i cannot give you the specifics. >> did he cooperate when arrested? >>guest: given the conditions, or the response we provided, he did not have a choice. >> what was that response? >> we had officers on location and he was taken down quickly without incident. >>shepard: a notable, a couple of notable things.
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any believe he was targeting military personnel. and now i thought interesting he said we would be giving a different briefing if he was not stopped. it sounds like they think this was very serious. >>reporter: we broke this summer this morning, the justice department, and myself with army sources and law enforcement sources in texas, and it is stunning to listen to the chief talk about how he would be standing here today giving a different press briefing if this private had not been stopped. so, it is interesting he said according to their information he was acting alone but he said that it was military personnel who were the target of thisment by this awol private from fort campbell. >>shepard: this will be a lengthy process? >>judge napolitano: the beginning of the process. this is how the process is
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supposed to work. they got a search warrant on the basis of information from the military allowing them to go in the hotel room and arrest this guy and get everything else that was in the hotel room and search other places, as well. they have been able to put together in a short period of time a rather well-thought-out but crude plot to murder other soldiers. this is the local police, and it will be in the hands of the military, because this guy is active duty soldier. so, civilians arresting a soldier at the qualify the military, step one in a long process that will take a couple of years to play out. >>shepard: all right. now they have him locked up. that is killeen, texas.
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ceiling. some say the amendment could give the president the power to raise the debt ceiling but we have never had lawmakers who put us in this position. ever. during a townhall at the university of maryland the president said and i quote, "i have talked to my lawyers and they are not persuaded that is a winning argument." and now judge napolitano, host of "freedom watch," is with us. the 14th amendment came in, well, you tell us. >>judge napolitano: 1868, one of the three post civil war amendments and at the time it came in it was intended to make the lessons of the civil war the public policy of the country and the whole country including the newly returning southern states and when the newly running southern states cam back to the union they discovered a huge federal debt, the lincoln administration borrowed huge amounts of money to wage war and the bills had to be paid so they pit a clause in the 14th amendment, saying that the debt of the united states of america,
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the debt that was run up will the the not be questioned and all states will contribute to paying it back. that phrase "the debt of the u.s. government will not be called into yet," is being used to suggest that authorizes the president of the united states to borrow money without congressional authorization to pay a debt that already exists. but the phrase in the 14th amendment does not talk about taking on new debt but talks about the government cannot deny old debt. sos the 14th amendment ends with "and congress shall have the authority to enforce this amendment." there is nothing in there about the president doing it. >>shepard: you think the president's lawyers are right and that does not give him the authority? >>judge napolitano: i do, and this argument is a false argument and the president recognizes that and no serious constitutional scholar has ever made that art until it entered the political debate three weeks
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ago. >>shepard: all of this is a political debate. they created this situation this we're in and now they want to not fix it, or fix it, or nothing. napolitano -- >>judge napolitano: prior congresses made this congress spend money we don't have and they want to dig the hole deeper an argument that some are making. but no one can say that the president can loan money on his own when for 100 years that has never happened and when the constitution itself says only the congress can borrow and only the congress can spend. >>shepard: so the president and the lawyers are probably acting right. we will see if they can work it out. it feel like we are closer today. >>judge napolitano: i think we are, whether you happy with the resolution is another story but it will be over by monday. >>shepard: at least we do not need to default. we will watch for the judge and
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"freedom watch," at 8:00 eastern, which is 7:00 in the grove and surrounding areas. don't get the fox business network? demand that thing. a judge not united kingdom ordered an in inquiry into "news of the world," from news corps, after allegations that employees at the paper hacked into the voice mail of people they covered, including the voice mail of a teenage murder victim. we are told they will look interest whether the united kingdom needs tough media regulation and the judge says he has the authority to force witnesses to give evidence and he will do so. the polygamist cult leader who graced the f.b.i.'s "most wanted" list fired his attorneys as the latest trial is underway. the judge now allowing warren jeffs to represent himself.
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he could face life in prison for assaulting two underage girls, and not the first time he has run into trouble. this prophet, as he puts it. a one claimed in 2001 when she was 14 this "prophet," forced her to marry and have sex with her 19-year-old first cousin. and now trace is in los angeles, he tried to delay this trial again, right? trace -- >>trace: the judge said the trial would begin, the 7th legal team warren jeffs fired telling the court and i quote, "the condition of my represent defense is such i cannot use them. they not having all the needed understanding from my defense which was for representation by one who knows and understands the facts of these truths, and warren jeffs claims this is all about religious freedom.
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>>shepard: we are learning more of what happened inside the fundamentalist mormon commune, right? >>trace: and the woman you talked about, is the one who gave us a stunning interview a short time ago, giving insight into what goes on in the polygamist sect and says describing warren jeffs as a man who controls the followers and is viewed as "god," and she says that he was actually destroying their spirit and she says that he would take children from their families and marry them. listen here. >> warren would choose a 12-year-old girl or a young bride it was actually considered a gift to the girl and the people would not just be okay they would be delighted for him to choose their daughter. >>trace: before the last conviction was overturned warren jeff admitted he made mistakes and denounced himself as a
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prophet and now i will get response from the woman on his representing himself in court. she says she is not surprised. >> this is his last stand and in my opinion he is doing everything he can to make this trial all about him and bring the shock factor and i am sure he is looking for sympathy, the sympathy of the world. >>trace: if he doesn't get sympathy he faces life in prison. >>shepard: thank you. members of congress are debating a bill to end the crisis they created but senate leaders say the plan is working its way through the house and is dead on arrival in the senate. so while all this is going on, what should all of us do to protect our investment? we will explain what has happened over the last hour on wall street and why it has happened.
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>>shepard: and tension is growing on wall street as lawmakers bicker over raising the debt ceiling. a live look at wall street. we are now 150 points off the high of the day. the dow jones industrial average slid a short time ago on a couple of things. the ongoing talks with the debt ceiling and there were thoughts they could be getting somewhere and you can see the green arrows but that is not the case so now it is going into the dutcher -- dumper and we could lose our aaa credit rating no matter what happens. no matter what warns exports warn even if they prevent default the crisis may have already damaged the nation's sterling credit rating and then the effect on us, rates on
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everything from credit card dozen mortgage could go up and if the markets tanks so i don't many retirement accounts. and now the associate editor for baron's. where are we? >>guest: nervously watching. the longer it drags on it is about watching a game of chicken and that is what the markets are expressing. i don't think it is foregone that the markets tank or interest rates surge if we don't get a timely deal but the possibility of those things is keeping people nervous. >>neil: is there a possibility because of what we went through the folks who lend us the money could say, well, i don't know if i want to lend you anymore, we lick our loans paid back? >>guest: that is the big picture risk down the road. i for think, though, there is not that many other places to go for the amount of money that a china or someone like that has to park somewhere. but longer term it does create
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pressure on interest rates potentially. >>shepard: how quickly could people notice something if the politician whose created this screw it up further? >>guest: the stock could get spooked and that would be the most immediate response and affect on people's psychology. i don't actually think that interest rates will surge immediately upon this because there are other mechanical factors keeping the treasuries moving along but it would not take too long beyond the august 2nd deadline. by the way, in 17 government shut downs, since 1970's, an average of three days so we have done this before. it is not exactly virgin territory. >>shepard: the part that we will not pay our debt. >>guest: no one is saying default. they are saying we will not be able to borrow were more.
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>>shepard: and brand new information from our chief white house correspondent with information on the white house talks. >>reporter: we spoke to democratic officials close to the talks and the headline is for the first time they are expressing a tiny bit of optimism. what you might call a possible plan (c) if boehner's plan (a) and reid is plan (b), if they get through their respective chambers they would fail, so what is plan (c)? the president is working the phone and what they trying to settle on a compromise is three things. the one they believe the spending cuts between the boehner and reid map is not that far off and they think they can bridge that difference. second, boat plans have some sort of a committee process on capitol hill to force a second round of cuts a few months down the road.
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so the first two issues can be dealt with. and third, they are saying the 39 and the aides are focusing on coming up with a "trigger," the mechanism if the special committee of congress six months down the road, and we hear many of the commissions will study and they do not do anything, what is the penalty if the job is not done? tax increases? drastic spending cuts? this "trigger," is what we will hear about where the action is right now. can they find a compromise on that to force action a few months down the road? >>shepard: this is breaking news a plan (c) and i thought to me at least, what is of interest we could be going through this six months from now as the president and the sireds and all on the democratic side hoped to avoid and the trigger makes it more palatable? >>guest: yes, you have hit the key which is, what does this trigger do in terms of raising the debt ceiling?
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what the white house is hoping in this potential compromise that the debt ceiling would be lifted through the end of 2012. that is the big difference. the boehner plan they want everyone to come back sex -- six months. in the white house if they get ground gained in the talks that are happening rapidly behind the scenes, somehow this would be an automatic trigger and if the spending cuts take place, the debt ceiling is lifted through the end of 2012. we are not there yet. that is where it is headed. >>shepard: thank you. and before we go i just learned all five democrats who backed the republican deficit reduction plan in the house of representatives last time, they called it a bipartisan bill because five democrats voted for it, blue dogs, they say this time around they are out. so john boehner gets this through the house it is with republicans only. the bar is raised.
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the stakes are high and neil cavuto will have it in the next huron "your world."
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